HHC · Howard Hughes Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.47B | $1.75B | $1.02B | $1.61B | $1.43B | $699.49M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $88.90M | $88.13M | $90.14M | $81.77M | $81.99M | $109.40M |
| Total Operating Expenses | $1.12B | $1.30B | $907.22M | $1.27B | $1.21B | $830.38M |
| D&A | $183.23M | $179.80M | $216.12M | $200.36M | $205.10M | $217.47M |
| Operating Income | $364.85M | $563.54M | ($527.16M) | $369.13M | $241.87M | ($119.56M) |
| Interest Expense | $169.93M | $164.93M | $156.95M | $110.89M | $130.04M | $132.26M |
| Income Tax | $38.53M | $80.96M | ($163.50M) | $60.50M | $15.15M | $11.65M |
| Net Income | $131.88M | $200.55M | ($550.95M) | $184.53M | $56.10M | ($26.15M) |
| EPS - Basic | - | - | - | $3.65 | $1.03 | ($0.50) |
| EPS - Diluted | - | - | - | $3.65 | $1.03 | ($0.50) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $570.57M | $595.70M | $631.55M | $626.65M | $843.21M | $1.01B |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $9.73B | $9.21B | $9.58B | $9.60B | $9.58B | $9.14B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $5.11B | $5.13B | $5.30B | $4.75B | $4.59B | $4.29B |
| Total Liabilities | $6.78B | $6.37B | $6.52B | $6.00B | $5.85B | $5.40B |
| Stockholders' Equity | $2.88B | $2.77B | $2.99B | $3.54B | $3.71B | $3.71B |
| Retained Earnings | ($50.58M) | ($182.46M) | ($383.01M) | $168.08M | ($16.46M) | ($72.56M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $461.34M | $398.63M | ($256.23M) | $325.25M | ($283.96M) | ($72.87M) |
| Investing Cash Flow | ($219.07M) | ($301.26M) | ($336.14M) | ($220.69M) | $101.46M | ($428.55M) |
| Financing Cash Flow | ($41.17M) | ($152.31M) | $546.50M | ($222.26M) | $156.14M | $1.12B |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 24.7% | 32.2% | -51.5% | 22.9% | 16.9% | -17.1% |
| EBITDA margin | 37.2% | 42.5% | -30.4% | 35.4% | 31.3% | 14.0% |
| Net margin | 8.9% | 11.5% | -53.8% | 11.5% | 3.9% | -3.7% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 6.0% | 5.0% | 8.8% | 5.1% | 5.7% | 15.6% |
| Effective tax rate | 22.6% | 28.8% | - | 24.7% | 21.3% | - |
| Return on assets | 1.4% | 2.2% | -5.8% | 1.9% | 0.6% | -0.3% |
| Return on equity | 4.6% | 7.2% | -18.4% | 5.2% | 1.5% | -0.7% |
| Return on invested capital | 3.5% | 5.1% | -5.0% | 3.4% | 2.3% | -1.2% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 1.77 | 1.85 | 1.77 | 1.34 | 1.24 | 1.15 |
| Debt / Assets | 0.52 | 0.56 | 0.55 | 0.49 | 0.48 | 0.47 |
| Debt / EBITDA | 9.32 | 6.90 | - | 8.34 | 10.27 | 43.79 |
| Interest coverage | 2.1x | 3.4x | -3.4x | 3.3x | 1.9x | -0.9x |
| Equity multiplier | 3.37 | 3.32 | 3.20 | 2.71 | 2.58 | 2.46 |
| Liabilities / Assets | 0.70 | 0.69 | 0.68 | 0.62 | 0.61 | 0.59 |
| Efficiency | ||||||
| Asset turnover | 0.15 | 0.19 | 0.11 | 0.17 | 0.15 | 0.08 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -15.8% | 70.9% | -36.3% | 12.6% | 104.1% | -46.2% |
| Revenue CAGR (3y) | -2.8% | 7.0% | 13.6% | 7.3% | 10.3% | -14.0% |
| Revenue CAGR (5y) | 16.1% | 6.1% | -0.8% | 7.9% | 6.6% | -2.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -35.3% | - | - | 52.6% | - | - |
| Net income growth (YoY) | -34.2% | - | - | 228.9% | - | - |
| EPS growth (YoY) | - | - | - | 254.4% | - | - |
| EPS CAGR (3y) | - | - | - | 28.8% | -7.9% | - |
| EPS CAGR (5y) | - | - | - | -1.4% | -26.3% | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 3.9% | -7.3% | -15.5% | -4.6% | -0.1% | 18.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.47B totalMaster Planned Communities Segment$634.86M · 43.0%
Operating Assets Segment$465.57M · 31.6%
Strategic Developments Segment$374.36M · 25.4%
Product / service
$1.03B totalMaster Planned Community Land Sales$562.59M · 54.4%
Condominium Rights And Unit Sales$370.16M · 35.8%
Builder Price Participation$52.34M · 5.1%
Other Land Rental And Property Revenues$48.36M · 4.7%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- -Current ratio improved
- -No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing Howard Hughes Corp against the 5 most active filers in the same SIC group.